PTC Named a Leader in Retail PLM Industry by IDC MarketScape

The IDC MarketScape observes that "companies today are increasingly faced with multiple challenges that necessitate the next iteration of [product lifecycle management] PLM. This is [new] PLM with a digital core, with configurable, collaborative, and visual business processes, rich data and analytics access, and design components integrated tightly to optimize responsiveness to customers and suppliers."

The IDC MarketScape examined the capabilities and strategies of 12 key vendors in the retail brand product innovation and product life-cycle management (PLM) applications market. The 12 vendors all have a significant retail brand market presence, continued growth in the retail brands market, and a wealth of experiences and best practices to share with retail brands and are enabling retailers using their solutions to innovate the way in which they design, source, and supply goods.

Following in-depth research and analysis, the IDC MarketScape identified PTC Windchill® FlexPLM® PLM software for retail brands as a leading product innovation and PLM platform. The PTC solution integrates end-to-end product development and supply chain capabilities, enabling end users to plan, create, develop, source, cost, and follow finished goods through their lifecycle to achieve rapid time-to-value. The report goes on to say, "retail brands can now also leverage PTC's fairly recent portfolio addition ThingWorx, an award-winning platform for building and running applications for the Internet of Things. The retailer benefits by being able to derive valuable insights from production and sales operations that can be used to improve product innovation, development, and sourcing decision processes."

According to Leslie Hand, vice president, IDC Retail Insights, "The bar has been reset for excellence in retail brand product innovation and PLM platforms. Today's best-in-class capabilities enable the digital transformation of product innovation and PLM processes, based on a foundational digital core, with configurable, collaborative, and visual business processes, rich data and analytics access, and design components integrated tightly to optimize responsiveness to customers and suppliers."

"We are honored to have been selected by the IDC MarketScape as a leader in retail product innovation and PLM, stated Eric Symon, general manager, Retail Business Unit, PTC. "The PTC retail solution provides a robust portfolio and IoT technologies to meet our customers' evolving needs and enable new ways of working in the digital world."